Brookfield India REIT to acquire Bharti's stake in realty joint venture

16 May 2024 , 02:31 PM

Brookfield India Real Estate Trust will acquire stake from Bharti in its joint venture with the latter. According to news reports, the deal is anticipated to be worth approximately ₹6,000 Crore for the portfolio, which spans 3.3 million sq ft.

Brookfield Asset Management completed the deal last year, acquiring about half of Bharti Enterprises’ four commercial properties in the Delhi-NCR region.

One of the reports stated, “The decision is expected to be taken tonight itself,” during the board of directors meeting of Brookfield India Real Estate Trust.

In Kolkata, Gurugram, Noida, and Mumbai, there are seven sizable integrated office parks owned by Brookfield India Real Estate Trust. The entire leasable space is 25.4 million square feet, of which 20.7 million are used for operations, 0.7 million are under construction, and 3.9 million are available for future development.

Currently held by members of the Brookfield Group, the further 4 million square feet are subject to a right of first offer held by the REIT.

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